EUR/USD still weak, rebounds from 1.1300

After falling to the vicinity of the 1.1300 handle, EUR/USD has now advancing towards the 1.1325/30 band so far.

EUR/USD deflates from 1.1370

The better sentiment around the greenback on Friday has prompted sellers to step in and drive spot to daily lows in the boundaries of the key support at 1.1300 the figure.

Despite the current knee-jerk, the upside momentum around spot remains intact, propped up by swelling scepticism around the likeliness of the Federal Reserve to hike rates at some point in the next months.

EUR/USD levels to watch

The pair is now losing 0.25% at 1.1328 and a breach of 1.1263 (50% Fibo of the May-June down move) would target 1.1250 (2014-2016 support line) and finally 1.1229 (100-day sma). On the other hand, the next hurdle aligns at 1.1367 (high Aug.18) followed by 1.1434 (high Jun.24) and finally 1.1466 (high Apr.12).